RBS - Direct Line Conveyancing Panel Information

Lexsure only know of a couple of banks that operate a separate approved solicitors panel where the mortgage advance is over a certain threshold. You should nevertheless check directly with RBS - Direct Line. At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with RBS - Direct Line

What you should do largely depends on the reason that your firm has been removed off the RBS - Direct Line conveyancing panel. The top 3 reasons are as follows:

1. lack of transactions
2. the lawyer is a sole practitioner
3. as part of the HSBC panel reduction.

In these three circumstances it is unlikely that you would expected to take any action. Disclosure and other compliance considerations are more likely to be relevant if the reason for removal is due to breaches of lender requirements or allegations of fraud or negligence. Whether the reasoning should trigger a disclosable 'material' breach will depend on the firm and the circumstances around possible failures to comply with the SRA Authorisation Rules, and the SRA will judge each case on its own merits. Factors such as the detriment or risk of detriment to clients, the scale of the issue and overall impact on the firm will need to be considered in deciding whether a failure is 'material'. As the COLP you will need systems to identify patterns of breaches. Even if you don't consider there to be regulatory implications the firms COFA should give some thought to whether she/he needs to take any action as result of being removed from the RBS - Direct Line conveyancing panel.

Please tread carefully here as what you are proposing may not be acceptable to the mortgage company. It is possible that you (as a non-panel firm) or the mortgage applicant are not at liberty instruct a panel firm of your choice. An increasing amount of lenders are making it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender must appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancer. You also need to make the costs implications and potential for delay very clear to your client.

With banks and solicitors working so closely with one another it is surprising that there has not been greater demand for the introduction of a bit of transparency regarding not just the figures for the RBS - Direct Line conveyancing panel but for all lender panels

In the circumstances please explain on the application what steps you have taken to find out the reasons behind cancellation of your RBS - Direct Line panel membership. In particular please provide details if you have received communications from the lender. E.G. before termination of your panel membership did you receive any letters or calls from the lender informing you as to why they reached this decision?

You need to contact RBS - Direct Line to obtain standard documents. The CML Handbook has an express section for lenders to enumerate who to contact to obtain standard documents. RBS - Direct Line in their Part 2’s state: You will need to quote your RBS - Direct Line solicitors panel reference.